U.S. sues Wells Fargo over FHA-insured loan defaults
NEW YORK — The federal government has sued Wells Fargo in a New York court, accusing the nation's largest mortgage lender of misrepresenting the quality of thousands of loans in order to be eligible for federal loan insurance.
The lawsuit, filed Tuesday in federal court in Manhattan, seeks to recover “hundreds of millions of dollars” that the Federal Housing Administration paid out after borrowers defaulted on...
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